 ▲ Cryptocurrency whale, AI coin, cryptocurrency decline/AI-generated image |
Bitcoin (BTC) has fallen below the psychological and technical support level of $64,000, fueling bearish forecasts that it could decline further to $45,000.
According to crypto-focused outlet U.Today on February 23 (local time), veteran analyst Peter Brandt assessed that Bitcoin’s recent price action has suffered severe technical damage and warned that the next major support level could be $45,000. Brandt predicted that selling pressure will intensify as Bitcoin has failed to rebound from a key support zone.
Bitcoin plunged to $64,350, its lowest level in 17 days, following U.S. President Donald Trump’s announcement of new tariff policies, stoking investor fear. The $67,000 level, which had held over the weekend, collapsed as soon as the regular futures market opened, accelerating sell-offs by short-term holders. This trend suggests that Bitcoin has entered a technical bear market after slipping below major moving averages.
Analysts warn that if Bitcoin fails to reclaim $64,000, the downward wave could extend past the mid-$50,000 range and reach $45,000. Brandt referenced past cascading declines that occurred when Bitcoin broke below the lower boundary of a symmetrical triangle pattern, emphasizing that the current market situation is highly precarious. Among market participants, anxious voices are emerging, saying that “the basement could be deeper.”
The sharp drop in futures open interest and a series of long position liquidations further support the bearish outlook, indicating that market momentum is tilted toward selling pressure. On-chain data analytics platform Santiment noted that while retail investor fear has reached extreme levels, no definitive bottom signal has yet been detected. For Bitcoin to halt its decline, it must at least reclaim and stabilize above the $66,000 level.
The digital asset market continues to experience extreme volatility amid the Trump administration’s unpredictable policy moves and ongoing macroeconomic uncertainty. Analysts widely agree that to avoid the worst-case scenario of falling to $45,000, Bitcoin will need not just a short-term technical rebound but a strong inflow of institutional capital.
Disclaimer: This article is for investment reference purposes only and we are not responsible for any investment losses resulting from its use. The content should be interpreted for informational purposes only.